Prices in the Russian market for hot-rolled (HR) and cold-rolled (CR) steel sheet were stable during the week ended Monday May 21 because buyers were waiting for a possible price reduction driven by the weaker export market.
"We will wait until June [before buying] because mills can cut their prices to us because of lower prices in the export market," a trader told Metal Bulletin. He added that prices in the domestic market correlate with exports but with some time lag.Metal Bulletin's weekly assessment of the price for Russia-origin 4mm HR sheet was unchanged on May 21 at...